however, guys, the dip is not over. The fall is still yet to come. look at the alts. I have warned you, do not buy alts but people still ask me "isn't this cheap". please, the altcoins got cheaper! it cannot go to zero, but just look, it still has more underground! As I keep consistently writing, my game plan is 'shorting with btc'. I have wrote a ta with a long scenario, but i haven't gone long, just explaining a reasonable long proofs. and until now, i win this! next are my track record for the last days.
7.7->7.4 7.3(sold 50% each level)
7.1->6.8 6.9(sold 50% each level)
6.7->6.39(sold 50% and holding)
I have earned a reasonable profit, but I am NOT done yet, this has to go more. today when 6850 neckline was broken, I quickly bought 6720. when price reached 6.39 i sold 505, i went long again with another bitmex account. for me, today is a lucky day, and I want to develop more and more of this, with healthy greediness.
i want to share again, my targets and perspective of September, and also, short term trading opportunities.
as you see in the chart, and my previous charts, we HAVE no supports left in moving average except 63/60/57, and weekly 100ema. how sad, but yes,
we have to make a strategy with this.
my view is that we are going to 5.5k, which is under previous low of 5.7k, and I, have full conviction that this should happen. It can even dip more to 100ema which is 5k, but, as we saw before at 5.7k, it really doesn't want to allow touching it, but GO NEAR IT. 5.5k is last year november low, which is significant, and this level, now, I think will be reached at earliest last week of AUGUST, or early September. the top spike after 5.5k bounce, should be
the july monthly high of 7.7k, and this too, i believe will happen UNTIL September 21th hearing of SEC. so, please think my perspective as a view,
and make your own trading plan.
my plan is to accumulate as many btc's at higher prices at 67/68 level or even higher, and sell at 5k levels, switch to long AFTER I see bull divergence iDaily frame.
now, short term what will happen?
currently, bulls are trying to push through 6550 zone. however this is difficult after so much lost confidence in the market, EVEN THOUGH low time frames are oversold. however, it will cool off, try to make a or something and reach 6600. below is an very early movement now BTC is making. low timeframes are oversold, so, it should try to move up until the next hours.
see the ,
yes, the rebound is finally incoming. it should come, if not, it is not BTC! level now at 33, it might go lower than that to 28~29, but bounce will 100% come at 6k levels(or worst 5k..). think the former bottom for this shoot up, 6.1~2k would be likely, BUT this needs to be taken consideration IF it has a bull div on frames. but, at the same time, it can shoot up without a bull div , because daily oversold is a very, very, serious one. it might not happen, so be careful! so happy trading, and always win!
so short term game plan for longs and shorts
1.shorts, accumulate from 6530->6650(6700 max, 6750 stoploss)
sell under 64 all the way to 62~63. BTC might panic and oversell to 6k levels, but sell it safely at 63 or bottom levels to secure your money.
->this trade is short term, for the next 48 hours.
2.longs, accumulate below 64, I would look for 6.2and 6.1(under 6050 should be stop)
sell target is 65~67 at the same day or next week.
switch to shorts at 67, and 66 at btc's spike.
guys short trade was already active from hours ago when btc hit 6550. there is chance it might slide down to 6400, or even lower so watch. if entered in shorts at mid 65 level, i would not sell so fast but you can absolutely take profit at early 6.4k zone. small wedge has chances to breakout. tomorrow may be better than today, hopefully breaking 6550 above so we can have better entry.
BTC made a higher high with 6396! hooray! from the looks of it, it is trying to make a correction upwards after some consolidation. if fail to go above 6396 at low time frame, it will try again, so keep a look at it.
for shorts, now it is little risky to buy at 63zone, it can shoot up any moment,
try looking for 6470/6520 in coming 12~18 hours.
longs, if you bought at 61/62 level hold tight, alts hold tight, for now.